Spring 2010: Get your home ready to sell

February 23, 2010

Guest Column: Bill Martella

The real estate market is showing signs of life in Northern Michigan. The number of properties sold rose in the one and a half months of this new year compared to the same period last year as reported in the Water Wonderland Board of Realtors MLS statistics.

The inventory of homes on the market is lower than at the same time last year as well, so that means we could see an increase in demand, so let’s make the best first impression possible!

There are many home improvements that can be done to get your house ready to sell, but some projects have a higher return on your sales price and salability than others. The National Association of Realtors reported that small-scale exterior projects are the most profitable at resale, according to estimates by Realtors who completed a recent survey.

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The National Association of Realtors claim on a national level that eight out of the top 10 projects in terms of costs recouped were exterior replacement projects that cost less than $14,000. Certain types of door and siding replacements, as well as wood deck additions, all returned more than 80 percent of project costs upon resale. A steel entry door replacement — a new addition to this year’s list — recouped 128.9 percent of costs, followed by upscale fiber-cement sliding replacements at 83.6 percent. Wood deck additions recouped 80.6 percent of costs.

Curb appeal and first impressions are so important in today’s market and, with the increasing number of television programs featuring remodeling tips and inexpensive design ideas, there are many resources available to home owners who want to be proactive in the home-selling process.

A great resource to start with is a local Realtor who can give you advice about which projects are the most cost effective and will serve you the best to make your home attractive to buyers. Realtors have been trained to “stage” homes and help organize your belongings and highlight the value adding features of your home. If you have a basement or garage to store away some of your personal things until it is time to move, do it, or consider renting a storage space for a couple of months.

A Realtor can help you decide how to de-clutter the space if it needs it and that can make a big difference to potential buyers. Don’t be offended if asked by your Realtor to put your personal knickknacks away. The home will be more inviting to potential buyers if they can envision their “stuff” in the space once yours is out of sight.

According to the National Association of Realtors Web site, www.Realtor.org, “Once again, this year’s Remodeling Cost vs. Value Report highlights the importance of a home’s first impression,” said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz. “With exterior projects returning a high percent of project costs upon resale, Realtors can help give your home curb appeal while adding value to the real estate transaction.”

It makes sense to me, especially writing this from Gaylord in the middle of winter, that exterior improvements to doors, windows, siding and roofs should bring a better return on project investment than some interior projects. A house that is weather tight and warm is important in Gaylord, Michigan.

So, I recommend taking a step back and try to evaluate your house as if seeing it through a buyer’s eyes. Clean up the little projects that can be handled in a week or a weekend to dress up your house to make the best impression possible. You only get that chance once!